The BP partnership has definitely given our whole team confidence, Brooks says. The material on the bp Annual Report webpage (the Material) relates to the year ended 31 December 2021 and is provided for general information only. In order to advance our purpose and ambition, we have identified three strategic focus areas, and weve set targets and aims against these out to 2025 and 2030. DocuSign Envelope ID: A3060411-4035-4A47-88F1-5E2F2BB0AEEC, We Want to Help the World Reach Net Zero and Improve People's Lives, Reliance and BP Move Forward with Indian Fuels Partnership., BP Annual Report and Form 20-F 2018 Scoping Our Scope Covered 136 Components, Press Release by BP and Reliance Industries Limited, BP International Limited ANNUAL REPORT and FINANCIAL, In the Superior Court of the State of Delaware, 1 Complaint Against BP in Respect of Violations of the OECD Guidelines, Plaintiffs' Response in Opposition to BP Motion, Energy Transition: Evolution Or Revolution? Visit one of our regional websites to find out more about our local projects, initiatives and key contacts. Lightsource bp offers comprehensive third-party O&M services, covering all aspects of solar operations and maintenance. Brooks has a Winston Churchill quote in mind: Now, this is not the end. This is exactly the type of energy we want to develop and deliver as we continue to build out our renewable pipeline and ultimately strengthen confidence in our target of delivering 20GW of developed renewables by 2025.. If you are passionate about accelerating the energy transition, and looking to join a global collaboration of team members focused on delivering sustainable power, visit our careers page to find out more about working at Lightsource bp. That's enough to power approximately 86,000 homes in New South Wales. solar projects developed worldwide to date, US solar projects in construction or operations, USD project financing raised in the US since 2019, Executed US power contracts with clients in 11 states. It also translates into competitively priced electricity for our customers., Felipe Arbelaez, bps senior vice president of zero carbon energy, added: To help reach our net zero ambition and develop 50GW of renewable power by the end of this decade, we continue to invest in clean, reliable energy in the US. At Lightsource bp, weve been developing utility-scale solar projects since 2010. And Lightsource, formed in 2010, also brings something distinctive to the table: a different perspective on individual project and portfolio financing, according to Brooks. bp acquired the projects as part of its net zero ambition and target to grow its net developed renewable generating capacity to 20GW by 2025 and 50GW by 2030. Lightsource bp is an international solar business. We are making substantial progress on our strategy to pivot from an international oil company to an integrated energy company. You can choose to allow all cookies by clicking Allow all or manage them individually by clicking Manage cookie preferences, where you will also find more information. LIGHTSOURCE BP RENEWABLE ENERGY INVESTMENTS LIMITED, for LIGHTSOURCE BP RENEWABLE ENERGY INVESTMENTS LIMITED (09494479), (of the document filed at Companies House), Companies House does not verify the accuracy of the information filed. In 1910, the steel mill, then known as The Colorado Fuel and Iron Company, employed approximately 15,000 people, or about one-tenth of the entire Colorado workforce, according to the Colorado Encyclopedia and later was the . It makes good business sense, too. All rights reserved. You can find out more about which cookies we are using or switch them off in settings. At Lightsource BP we firmly believe in the importance of a diverse, supportive, equality-driven work force, and were proud of everything weve done to create one. We have always been driven, and our partnership with BP is a great enabler. The framework agreements, the largest in First Solars history, will provide modules scheduled to be delivered between 2023 and 2025 to support the companies solar development pipelines in the United States. Earlier this year, First Solar announced that it will invest $680 million to expand Americas domestic PV solar manufacturing capacity by 3.3GW annually, by building its third US manufacturing facility, in Lake Township, Ohio. Weve established a good foundation with BP helping us to embed business processes and, after year one, were ready to deliver real growth momentum.. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. This website uses cookies so that we can provide you with the best user experience possible. Were proud to announce that over the past three months weve secured planning permission for a total of over 100MW of solar and storage projects in the UK. Home, Britoil, Lightsource BP, Llandarcy. Post Online Media. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or achievements to differ materially from those expressed or implied by these statements. June:first utility solar plant in Maharashtra, India, iscompleted and connected financed by UK Climate Investments, a JV between the Green Investment Group and the Department for Business Energy and Industrial Strategy. Lightsource BP, rebranded from Lightsource Renewable Energy in 2018, is the largest solar developer in Europe, and third largest in the world outside of China. This website uses cookies so that we can provide you with the best user experience possible. ()*, GBp We are using cookies to give you the best experience on our website. Our team includes over 500 industry specialists, working across 15 countries. But many BP investors have cast doubts over BPs vow that the renewables business could generate returns of 8% to 10%, higher than the sectors average of 5% to 6% in order to maintain and even grow shareholder payouts. Lightsource bp, a 50:50 joint venture with bp, unveiled the solar project that will help reduce emissions and support more than 1,000 jobs at EVRAZ's Pueblo steel mill - the world's first steel mill to be powered largely by solar energy. Were delighted that bp and Lightsource bp have placed their trust in us and our technology to help power their growth in the United States.. We'd also like to use analytics cookies so we can understand how you use our services and to make improvements. November:contracts are signed for 25MW of solar power in Western US. About bp Investors are looking at BPs transition and thinking that its ambitious but value destroying, one top 10 investor said, speaking on condition of anonymity. Our wide range of energy solutions provide cost-effective end-to-end offerings designed to fit your needs. As a business, we also care deeply about our culture and values, invest in our teams, and place people and communities at the heart of the decisions we make. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. We are using cookies to give you the best experience on our website. In 2021 we started directly supplying customers in China with gas from liquefied natural gas (LNG) imported by bp, completing our first fully integrated gas value chain into the country. Designed and developed at its research and development (R&D) centers in California and Ohio, First Solars responsibly produced advanced thin film PV modules set industry benchmarks for quality, durability, reliability, design, and environmental performance. If you are passionate about accelerating the energy transition, and looking to join a global collaboration of team members focused on delivering sustainable power, visit our careers page to find out more about working at Lightsource bp. Information in the bp Annual Report and Form 20-F 2021 reflects 100% of the assets and operations of the company and its subsidiaries that were consolidated at the date or for the periods indicated, including non-controlling interests. And the next big steps are bigger projects and more volume. The new facility is expected to be commissioned in the first half of 2023 and when fully operational will scale the companys Northwest Ohio footprint to a total annual capacity of 6GW, which is believed to make it the largest fully vertically integrated solar manufacturing complex outside of China. Lightsource bp announces the appointment of Miguel Fernandez Hortelano as Group Head of Risk and Energy Markets. Speaking about the future growth of Lightsource BP, Brooks says: Ive no doubt that we will be 10 to 15 times the size we are today in a decade. Dont underestimate the ambitions of the Lightsource BP team, he warns. If it doesnt make money, it means that were not doing good in the world, as we cant do more of it.. DocuSign Envelope ID: A3060411-4035-4A47-88F1-5E2F2BB0AEEC. With smaller pockets, comes a different approach. Lightsource BP will continue to publish an annual Gender Pay Gap Report, despite falling below the threshold of businesses required to do so, as evidence of our dedication to fair pay and transparency. Lightsource bp Renewable Energy Investments Limited. BP <BP.L> is getting back into solar power six years after its first, failed foray, with a $200 million investment in solar generator Lightsource that the oil and gas firm expects will deliver . is the parent company of the bp group of companies. Lightsource bp and bp will benefit from the evolution of First Solars advanced Cadmium Telluride (CadTel) thin film module technology platform over the span of the agreement. Sustainability is integrated into our business strategy and operating model at every level. Find out more about how Lightsource bp works and operates and our partnership with bp. Brazil has all the hallmarks of a country in which Lightsource BP can thrive. Header placeholder lorem ipsum dolor sit amet, consectetur adipiscing elit. In February 2019, Penn State and Lightsource bp announced that theyd signed a 25-year contract for clean, renewable electricity to power the university. Our employees are drivers of our success, as is our status as a fair employee with a track record of gender equity in hiring and compensation. which is equivalent to the annual demand of approximately 36,000 New Zealand homes. The full details of our Gender Pay Gap Report 2018 can be found here. But as an average we are absolutely confident that a return of 8% to 10% is achievable because thats where we are today.. "Reliability is super-important, too this is a young industry, so its like a gold rush, with new players coming into the market who want to flip things quickly. We provide full scope development for our projects, from initial site selection, financing and permitting through to long-term management of solar projects and power sales to our clients. We are growing at pace and scale, going beyond business as usual, to act as an enabler of the energy transition and meet this rising demand for sustainable energy with the urgency it deserves. The development of our projects are underpinned by our core values, ethically focussed and climate conscious. Cookies also allow us and our partners to show you relevant ads when you visit our site and other 3rd party websites, including social networks. We use cookies to collect and analyse information on our site's performance and to enable the site to function. Please refer to the Cautionary statement on page 364 of the full bp Annual Report and Form 20-F 2021 for further information on forward-looking statements. As the company's shares, in the form of ADSs, are listed on the NYSE, an Annual Report on Form 20-F is filed with the SEC. (Loading), USD 2023 Lightsource. Annual report Performing while transforming Annual Report and Form 20-F 2021 pdf / 8.3 MB Strategy Business model Remuneration Key downloads Throughout the transition, our goal will be to maintain the high performance and steady progress we have shown since our transformation journey began in 2020. The companys primary share listing is the London Stock Exchange. The projects are spread across 12 U.S states & will generate enough clean energy to power ~1.7 million U.S. homes. The company and each of its subsidiaries are separate legal entities. GBp This result is much lower than the UK average (this year 8.6% in favour of men), and is largely due to the composition of our workforce. Lightsource BP will continue to publish an annual Gender Pay Gap Report, despite falling below the threshold of businesses required to do so, as evidence of our dedication to fair pay and transparency. December 2022 marks five years since bp and Lightsource entered into a partnership to become Lightsource bp a 50:50 joint venture between the companies. Lightsource bp is a global leader in utility-scale solar development and management. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. bps ambition is to become a net zero company by 2050 or sooner, and to help the world get to net zero. After all, 2017 was also the year in which renewable power grew by almost 20% higher than the 10-year average led by solar energy. Our ability to help our customers manage these risks by providing long-term firm pricing and supply commitments, backed by First Solars reputation, is a key differentiator. High-grading our portfolio, lowering our emissions and driving returns. In addition to its Ohio manufacturing facilities, First Solar also operates factories in Vietnam and Malaysia, and has previously announced plans to build a new 3.3GW factory in India that is expected to be commissioned in the second half of 2023. We use cookies to make our services work and collect analytics information. As the first person on the ground when entering a new territory, he has found that, over the past year, the BP name has opened a lot of doors. August:further US expansion is announced with the acquisition of six solar development assets in Pennsylvania and Maryland. Rachael will be responsible for Lightsource bps global procurement organisation including purchasing, supplier quality, and global supply chain strategy. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. Its recent list of new deals includes plans to leverage its expertise in developing innovative power purchase agreements (PPAs) in Iberia, for example. The former Goldman Sachs principal and investor went from finance to an operating business because: I have an enormous personal conviction about the energy transition and the ability to have a real impact.. Working alongside your teams, we can offer our unparalleled framework, experience and resources to guarantee the performance of your assets. Oil and gas will remain BPs largest source of income over the coming decade which will help pay for the shift to low-carbon energy. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. Developed at R&D labs in California and Ohio, the companys advanced thin film photovoltaic (PV) modules represent the next generation of solar technologies, providing a competitive, high-performance, lower-carbon alternative to conventional crystalline silicon PV panels. TEMPE, Ariz., Nov. 22, 2021 (GLOBE NEWSWIRE) -- First Solar, Inc. (Nasdaq: FSLR) today announced that global solar leader Lightsource bp and integrated energy company bp have placed multi-year orders for up to 5.4 gigawatts (GW) combined of First Solars advanced, ultra-low carbon thin film photovoltaic (PV) solar modules. the Role of Oil and Gas, Sustainability Report 2020 Sustainability at Bp 2020 at a Glance Our Foundations Our Focus Areas Embedding Sustainability External Collaborations Our Reporting, Parent Company Financial Statements of BP P.L.C, DID YOU KNOW? All rights reserved. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. This website uses cookies so that we can provide you with the best user experience possible. Privately-owned Lightsource BP, which develops solar projects from their earliest stages, reported a turnover of 55.3 million pounds ($72.2 million) last year, compared with 40.7 million pounds a year earlier, according to the companys annual report filed this week. July:announces Egypt market entry through a JV with Hassan Allam Utilities, one of the largest Egyptian construction firms. London-based Lightsource BP, which is half-owned by oil major BP and will mark its 10th anniversary later this year, has rapidly grown around the world in recent years and aims to reach 10 gigawatt (GW) of solar capacity by 2023 from a current 2 GW . Brazil is a massive market with huge potential. bp is Americas largest energy investor since 2005, investing more than $130 billion in the economy and supporting about 230,000 additional jobs through its business activities. For staff members with dependents, Lightsource will cover 50% of the costs of covering dependents. and corresponding auditors report do not form part of bps Annual Report on Form 20-F as filed with the SEC. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. November:expansion into Italy, Iberia and Brazil is announced. Modern Slavery And Human Trafficking Statement. Cookies also allow us and our partners to show you relevant ads when you visit our site and other 3rd party websites, including social networks. See here for a complete list of exchanges and delays. The anniversary of BP's investment in Europe's largest solar developer is coinciding with its announcement of expansion into Brazil, the latest step in the company's growing global footprint As 2017 drew to a close, BP joined forces with a trailblazing company called Lightsource, Europe's largest solar developer. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. The brand gives us a credibility that it would take 30 years to develop on our own. All rights reserved. February:a deal to build, own and operate the largest solar facility in Kansas, US, for the Mid Kansas Electric Company is signed. You can find out more about which cookies we are using or switch them off in settings. Lightsource BP's initial goal was to use the oil giant's financial muscle to grow a 1.6 gigawatt pipeline of solar projects to a portfolio of 10GW of solar investments by 2023. We use some essential cookies to make our services work. From raw material sourcing and manufacturing through end-of-life module recycling, First Solars approach to technology embodies sustainability and a responsibility towards people and the planet. Lightsource bp has obtained environmental permits for 19 solar projects, creating over 5000 jobs and avoiding 900,000 tons of CO2. 260MW of affordable, clean and locally generated electricity for Texas communities. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. As part of the deal, Lightsource bp and bp have placed firm orders for approximately 4.4GWDC of modules, with options for an additional 1GWDC. It is a key element in BP CEO Bernard Looneys plan to grow BPs renewable power generation capacity 20-fold by 2030 to 50 GW from solar and wind power. Lightsource bp and AEP Energy Partners Sign Power Contract for 188 Megawatt Solar Farm in Indiana. Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. Lightsource bp has built or financially closed on more than 900 MW of solar this year and plans on 1,000 MW in 2021. These forward-looking statements include, but are not limited to, statements concerning (i) the framework agreement to supply up to 5.4 gigawatts (GW)DC of solar modules to bp and Lightsource bp, (ii) an MoU with bp and Lightsource bp to explore opportunities to source solar electricity from generation assets owned by the two companies in the United States, (iii) First Solars plans to establish new factories in the United States and India and the expected capacities of those factories, and (iv) when those factories will commence operations and the companys resulting global manufacturing footprint. And, if youre confident, you can put your head down and deliver, Lightsource BP: one year on and going global. It sees further profit opportunities from BPs large power trading business, which can offer customers power from various sources such as solar, wind or natural gas. Lightsource bp in the U.S. is headquartered in San Francisco with development offices in Denver, Philadelphia, Atlanta and Austin. Lightsource is Europe's largest solar development company, focused on the acquisition, development and long-term management of large-scale solar projects. Under the agreement, First Solar has firm orders for 1.55GWDC of modules in 2023, 1.3GWDC in 2024, and 1.55GWDC in 2025. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. Group Results Fourth Quarter and Full Year 2019 Highlights. Our purpose is to deliver affordable and sustainable solar. *Market data delayed by 20 minutes. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. Weve made a number of new hires across the Group, and the number of women in higher paying roles has increased, which is something were very proud of. Find out more about us and how were working together to create a sustainable energy future for us all. In August 2021 Lightsource bp signed a new power purchase agreement with McDonald's and eBay for a 345MW solar project under development in Louisiana. COLUMBUS, Ohio-- ( BUSINESS WIRE )--Lightsource bp has executed a power purchase agreement with Amazon for a new 375 megawatt (MWdc) solar project under development in Ohio, as part of Amazon's. They have a combination of technologies that effectively allows them to deliver for customers in different jurisdictions. ($1 = 0.7660 pounds) (Reporting by Ron Bousso; editing by Emelia Sithole-Matarise). Lightsource bp and AEP Energy Partners sign power contract for 188 megawatt solar farm in Indiana Report this post Report Report. When it joined RE100 in 2020, First Solar committed to powering 100 percent of its global manufacturing operations with renewable energy by 2028, with an interim goal of transitioning its facilities in the US to carbon-free electricity by 2026. To accept or reject analytics cookies, turn on JavaScript in your browser settings and reload this page. 382.4 KB, pdf / New Mexico Today, we are recognized as aglobal solar leader, says its chief strategy officer, James Brooks. Were looking at assets in some parts of Europe that definitely offer double digit returns and we are also looking at assets in other parts of the world that are lower than that, he told Reuters in an interview this month. Solar Power Europe released the entries for its Solar Flora and Fauna photo competition. Assist in contract negotiation and. Despite this years impressive results, were not complacent well continue working hard to make sure that equality and fairness is at the heart of our company policies and practices. As a business we care deeply about the impact of our projects, our culture and values, and our team members. Lightsource bp Renewable Energy Investments Limited. For more information on bp in the US, visit www.bp.com/us. Oversee onboarding of new facilities. It, however, recorded an operating loss of 24.5 million pounds in 2019 compared with a 15 million pound loss a year earlier, as a result of higher investments in new projects. Lightsource bp Renewable Energy Investments Limited. Read story Prev 1 2 BP p.l.c. Privately-owned Lightsource BP, which develops solar projects from their earliest stages, reported a turnover of 55.3 million pounds last year, compared with 40.7 million pounds a year earlier,. Discover how we are creating a positive impact across energy, the environment and our people. Photos accompanying this announcement are available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/16dda5bd-3fb9-4df3-a008-49c75d6999d5, https://www.globenewswire.com/NewsRoom/AttachmentNg/f00065c2-75ab-46b9-b9e8-b9057d21ae52. London-based Lightsource BP now wants to develop 25GW of projects by 2025, upping a . Will stimulate local economy by bringing an estimated $30 million in new revenue to the . Our growth has been in maturing the organization and getting into a strong operating position for next year. First Solar Investor Relations Preference shares are cumulative first preference shares and cumulative second preference shares in BP p.l.c. The goal was to take the UK-based business global and, one year on, the Lightsource BP partnership has more than doubled its footprint around the world and has just announced a move into renewables-friendly Brazil, where the market potential for solar is huge. 8.3 MB. Lightsource bp pays for the first $800 of the monthly insurance premium. BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. These factors include, but are not limited to, the matters discussed under the captions Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Operations of our most recent Annual Report on Form 10-K and our subsequently filed Quarterly Reports on Form 10-Q, as supplemented by our other filings with the Securities and Exchange Commission. (Loading), USD This website uses cookies so that we can provide you with the best user experience possible. As 2017 drew to a close, BP joined forces with a trailblazing company called Lightsource, Europes largest solar developer. farmers and ranchers face increasing economic stress. Lightsource bp is an international solar business. (), USD Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

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